Chicago Capital Management LLC bought a new position in Validus Holdings, Ltd. (NYSE:VR) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 315,334 shares of the insurance provider’s stock, valued at approximately $21,269,000. Validus makes up about 8.3% of Chicago Capital Management LLC’s portfolio, making the stock its 4th largest holding. Chicago Capital Management LLC owned 0.40% of Validus at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of VR. Schwab Charles Investment Management Inc. grew its stake in Validus by 7.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 412,351 shares of the insurance provider’s stock worth $19,348,000 after acquiring an additional 28,787 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Validus in the 4th quarter worth about $359,000. Cerebellum GP LLC bought a new position in Validus in the 4th quarter worth about $3,365,000. Paragon Capital Management Ltd bought a new position in Validus in the 4th quarter worth about $211,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Validus by 48.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,315 shares of the insurance provider’s stock worth $202,000 after acquiring an additional 1,410 shares in the last quarter. Institutional investors and hedge funds own 83.21% of the company’s stock.
In related news, President Kean Driscoll sold 6,875 shares of the stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $67.29, for a total transaction of $462,618.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E.A. Carpenter sold 10,000 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $67.70, for a total transaction of $677,000.00. The disclosure for this sale can be found here. Insiders have sold 30,625 shares of company stock valued at $2,068,363 in the last three months. 2.33% of the stock is currently owned by corporate insiders.
NYSE VR opened at $67.50 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. Validus Holdings, Ltd. has a 52-week low of $67.37 and a 52-week high of $67.44.
Validus (NYSE:VR) last released its quarterly earnings data on Tuesday, May 1st. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.56). Validus had a negative net margin of 5.06% and a negative return on equity of 2.69%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. Validus’s revenue for the quarter was up 46.9% on a year-over-year basis. equities research analysts forecast that Validus Holdings, Ltd. will post 4.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 30th. Stockholders of record on Tuesday, May 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Monday, May 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. Validus’s dividend payout ratio is presently -142.06%.
VR has been the topic of a number of research analyst reports. Buckingham Research downgraded shares of Validus from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 13th. Keefe, Bruyette & Woods downgraded shares of Validus from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. JMP Securities downgraded shares of Validus from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 30th. Finally, Zacks Investment Research downgraded shares of Validus from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $51.25.
Validus Holdings, Ltd. provides reinsurance coverage, insurance coverage, and insurance linked securities management services worldwide. It operates through three segments: Reinsurance, Insurance, and Asset Management. The Reinsurance segment underwrites property reinsurance products on a catastrophe excess of loss, per risk excess of loss and proportional basis; and aerospace and aviation, agriculture, composite, marine, technical lines, terrorism, trade credit, workers' compensation, and other specialty lines, as well as casualty and financial lines.
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